Kotak Mahindra's profit skyrockets in 1Q - Views on News from Equitymaster

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Kotak Mahindra's profit skyrockets in 1Q

Jul 29, 2000

Kotak Mahindra Finance Ltd. (KMFL) has reported a YoY 266% growth in the profits to Rs 150 m in 1QFY01. Reduction in the depreciation and provisioning for non performing assets (NPAs) has fuelled the profit growth.

(Rs m)1QFY001QFY01Change
Income from Operations 377 435 15.5%
Other Income 115 141 22.5%
Interest Expenses 180 165 -8.1%
Operating Profit (EBDIT) 197 270 37.2%
Operating Profit Margin (%)52.3%62.1% 
Other Expenses 61 87 41.9%
Depreciation 140 112 -19.7%
Profit before Tax11121290.7%
Provision for NPAs3017-44.7%
Tax 40 45 12.5%
Profit after Tax/(Loss) 41 150 265.6%
Net profit margin (%)10.9%34.6% 
No. of Shares (eoy) (m) 37 46  
Diluted number of shares 46 46  
Diluted Earnings per share*3.613.1 
*(annualised)   

The company's net profit margins also increased to 34.6% as a result of decline in the interest expenditure.

At the current market price of Rs 62, KMFL is trading at a PER of 5 times its 1QFY01 annualised earnings. During the year the company has also declared rights in the ratio of 1:2.

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